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IMPERIAL CREDIT INDUSTRIES INC. FILES REGISTRATION STATEMENT FOR $75,000,000 OF SENIOR NOTES

 NEWPORT BEACH, Calif., Nov. 16 /PRNewswire/ -- Imperial Credit Industries Inc. (NASDAQ: ICII) today announced that it has filed a registration statement with the Securities and Exchange Commission covering a proposed public offering by the company of $75,000,000 principle amount of Senior Notes due 2003.
 The proposed offering is expected to commence in December 1993. Lehman Brothers and Montgomery Securities will be the managing underwriters.
 Imperial Credit Industries Inc. is engaged primarily in the mortgage banking business which consists of the origination or acquisition and sale of mortgage loans and the servicing of such loans.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or a solicitation of any offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offer is made only by the prospectus, copies of which may be obtained from Imperial Credit Industries Inc., 20371 Irvine Ave. Suite 104, Santa Ana Heights, CA, 92707.
 -0- 11/16/93
 /CONTACT: Karen Montandon, Investor Relations, Imperial Credit Industries, 714-438-2195/
 (ICII)


CO: Imperial Credit Industries Inc. ST: California IN: FIN SU: OFR

NY-LM -- LA046 -- 5196 11/16/93 18:10 EST
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Publication:PR Newswire
Date:Nov 16, 1993
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